{"id":17246,"date":"2026-11-13T19:00:47","date_gmt":"2026-11-13T19:00:47","guid":{"rendered":"https:\/\/globalnigerianews.com\/index.php\/2026\/11\/13\/tinubu-flags-off-3-5bn-bakassi-deep-seaport-construction\/"},"modified":"2026-11-13T19:00:47","modified_gmt":"2026-11-13T19:00:47","slug":"tinubu-flags-off-3-5bn-bakassi-deep-seaport-construction","status":"publish","type":"post","link":"https:\/\/globalnigerianews.com\/index.php\/2026\/11\/13\/tinubu-flags-off-3-5bn-bakassi-deep-seaport-construction\/","title":{"rendered":"Tinubu flags off $3.5bn Bakassi Deep Seaport construction"},"content":{"rendered":"
\"Tinubu<\/p>\n

President Bola Tinubu on Friday flagged off the construction of the 3.5 billion dollar Bakassi Deep Seaport in Cross River.<\/p>\n

Tinubu, represented by the vice-president, Kashim Shettima, described the project as a historic economic intervention capable of transforming Nigeria\u2019s maritime industry.<\/p>\n

Speaking at the groundbreaking ceremony in Bakassi, Tinubu said the project would break a centuries-old jinx and reposition Cross River as a major commercial and maritime hub.<\/p>\n

\u201cI have not come to Calabar to cut a ribbon and dance Ekpe Masquerade. I am here to break ground and break centuries-old jinx,\u201d he said.<\/p>\n

He said the project would unlock Nigeria\u2019s maritime potential, diversify the economy and demonstrate what collective commitment could achieve.<\/p>\n

The President said the seaport, supported by a proposed superhighway, would provide an evacuation corridor linking the South-South to other parts of the country.<\/p>\n

He said the concentration of more than 80 per cent of Nigeria\u2019s foreign trade through Lagos ports had contributed to congestion, shipment delays and higher costs.<\/p>\n

\u201cLagos is not our enemy. Lagos is our elder brother in faith. No country eats with one hand. No country carries all its load on one shoulder.<\/p>\n

\u201cWhen over 80 per cent of our foreign trade flows through Lagos, and Lagos alone, that is not strength. That is congestion,\u201d he said.<\/p>\n

Tinubu said the Bakassi project would complement existing ports, improve cargo movement and strengthen Nigeria\u2019s competitiveness in international trade.<\/p>\n

He said Nigeria accounted for more than 60 per cent of West Africa\u2019s Gross Domestic Product but handled only 25 per cent of regional cargo traffic.<\/p>\n

The president said the country\u2019s blue economy had the potential to generate 44 billion dollars annually.<\/p>\n

\u201cThe sea is no longer just water to look at. It is wealth to harvest,\u201d he said.<\/p>\n

He said the project would create employment opportunities for engineers, crane operators, truck drivers, welders, customs officers, artisans and traders.<\/p>\n

Tinubu added that agricultural produce, including cocoa from Ikom and rice from Ogoja, alongside timber and solid minerals, would benefit from improved access to international markets.<\/p>\n

He urged Cross River residents to protect the project from political interference and misinformation.<\/p>\n

Earlier, Gov. Bassey Otu described the groundbreaking as a milestone in efforts to reposition Cross River as a major player in Nigeria\u2019s maritime and blue economy.<\/p>\n

Otu said the project, initiated under his predecessor, Prof. Ben Ayade, had suffered political, administrative, legal and environmental setbacks.<\/p>\n

He thanked Tinubu for supporting the project and providing the necessary federal government approvals.<\/p>\n

The governor said the state had completed environmental impact assessments, hydrographic, geotechnical and geophysical surveys.<\/p>\n

He added that the project had secured technical approval from the Federal Executive Council.<\/p>\n

Otu said the seaport would be developed through a public-private partnership arrangement, with an initial funding commitment of N2.27 billion.<\/p>\n

He said the Federal Government had officially retired colonial-era navigational charts dating to 1903 on Oct. 1, 2026, following the adoption of modern scientific survey reports.<\/p>\n

According to him, the development provided a more reliable scientific basis for determining Cross River\u2019s maritime status and navigational boundaries.<\/p>\n

Otu said the seaport, proposed airport expansion and Lagos-Calabar Coastal Highway would provide the state with three strategic economic gateways.<\/p>\n

He said the facilities would attract investments in logistics, shipping, fishing, tourism, shipbuilding and other maritime-related businesses.<\/p>\n

The governor also disclosed that some indigenes were undergoing specialised training for the construction and eventual operation of the port.<\/p>\n

In his remarks, Dr George Elombi, President and Chairman of the Board of Directors of African Export-Import Bank (Afreximbank), pledged the bank\u2019s support for developing an economic corridor around the seaport.<\/p>\n

Represented by Mrs Kanayo Awani, Executive Vice-President of Afreximbank\u2019s Intra-African Trade Bank, Elombi said the port could accommodate larger vessels and reduce cargo transportation costs.<\/p>\n

He said the project would also improve the competitiveness of agricultural and manufactured products.<\/p>\n

Elombi urged stakeholders to complement the seaport with transport infrastructure, industrial and agro-processing zones, reliable electricity, water supply and digital connectivity.<\/p>\n

The News Agency of Nigeria (NAN) reports that government officials, maritime industry stakeholders, development finance institutions, traditional rulers and other dignitaries attended the ceremony.<\/p>\n

The project was conceived during the administration of former governor Ben Ayade, who pursued its development from 2015. (NAN)<\/p>\n

The post Tinubu flags off $3.5bn Bakassi Deep Seaport construction<\/a> appeared first on Vanguard News<\/a>.<\/p>\n<\/div>\n

Source: <\/p>\n

Vanguard News<\/div>\n","protected":false},"excerpt":{"rendered":"

President Bola Tinubu on Friday flagged off the construction of the 3.5 billion dollar Bakassi Deep Seaport in Cross River. Tinubu, represented by the vice-president, Kashim Shettima, described the project… <\/p>\n","protected":false},"author":1,"featured_media":17247,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-17246","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/17246","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/comments?post=17246"}],"version-history":[{"count":0,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/17246\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media\/17247"}],"wp:attachment":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media?parent=17246"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/categories?post=17246"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/tags?post=17246"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}